Lasting Power Of Attorney
What is Lasting Power of Attorney?
If in the future you are unable to manage your own affairs, the people you have appointed can manage your financial life on your behalf. This can save a great deal of money and distress, and will ensure that, as a vulnerable person, your affairs will be handled correctly and quickly.
Nobody hopes for the worst… but you can prepare for it.
What Does an LPA Do?
An ‘LPA’ is a powerful tool that enables you to give your partner, children, sibling or close friend the power to ‘be you’ in the eyes of the law.
If you consider a Will as your wishes in death, the ‘LPA’ handles your wishes while you are still alive, but unable to make decisions for yourself.
There are many reasons why this might be the case, such as dementia, physical disability, an accident that leaves you incapacitated or even just a broken leg that stops you being able to go to the local bank!
How does it work?
An ‘LPA’ is a document signed by you, your attorney and witnesses. Once correctly signed, the document is ready to be registered with the ‘Office of the Public Guardian’, the government department who administer them.
The ‘LPA’ is 2 separate documents; one that deals with ‘Health & Welfare’ and the other that handles ‘Property & Financial Affairs’.
Everyone should have a Will but it is even more important if you have children, you own property or have savings, investments, insurance policies or you own a business.
A Trust allows your assets to be handed down to your beneficiaries at a time decided by you and most convenient to them, typically money or property being held for a set time period or indefinitely to provide an income or somewhere to live.
With a Funeral Plan you choose the funeral you want, and then pay for your chosen plan at today’s prices. Paying for your funeral today can be a good option compared to saving for your funeral as the cost of the funeral director’s services are fixed at today’s prices.